Phoenix Financial Ltd. Sells 23,726 Shares of IREN Limited $IREN

Phoenix Financial Ltd. trimmed its position in shares of IREN Limited (NASDAQ:IREN) by 38.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 37,264 shares of the company’s stock after selling 23,726 shares during the period. Phoenix Financial Ltd.’s holdings in IREN were worth $543,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IREN. Situational Awareness LP purchased a new stake in IREN during the 1st quarter valued at about $20,500,000. Allianz Asset Management GmbH purchased a new stake in IREN during the 2nd quarter valued at about $10,743,000. Trexquant Investment LP grew its position in IREN by 158.6% during the 1st quarter. Trexquant Investment LP now owns 1,038,220 shares of the company’s stock valued at $6,323,000 after purchasing an additional 636,767 shares during the last quarter. Private Advisor Group LLC grew its position in IREN by 4,075.5% during the 1st quarter. Private Advisor Group LLC now owns 508,118 shares of the company’s stock valued at $3,094,000 after purchasing an additional 495,949 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its position in IREN by 1,832.5% during the 1st quarter. Mizuho Markets Americas LLC now owns 502,459 shares of the company’s stock valued at $3,060,000 after purchasing an additional 476,459 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN Stock Performance

IREN opened at $51.83 on Thursday. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 87.85 and a beta of 4.19. The company’s 50 day moving average is $39.73 and its 200 day moving average is $21.03. IREN Limited has a 12-month low of $5.13 and a 12-month high of $74.15.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $187.30 million for the quarter, compared to the consensus estimate of $187.51 million. IREN had a net margin of 33.03% and a return on equity of 1.34%. On average, equities research analysts predict that IREN Limited will post 0.43 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on IREN shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $24.00 price target (up from $16.00) on shares of IREN in a research note on Friday, September 26th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $75.00 price target on shares of IREN in a research note on Thursday, September 25th. Arete started coverage on shares of IREN in a research note on Wednesday, September 24th. They issued a “buy” rating and a $78.00 price target for the company. Macquarie lifted their price target on shares of IREN to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Cantor Fitzgerald lifted their price target on shares of IREN from $27.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, IREN has an average rating of “Moderate Buy” and a consensus target price of $54.45.

Insider Activity

In related news, CEO Daniel John Roberts sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $33.13, for a total value of $33,130,000.00. Following the transaction, the chief executive officer owned 13,989,696 shares of the company’s stock, valued at approximately $463,478,628.48. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.02% of the company’s stock.

About IREN

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.